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PHOTO CAPTION: Proterra electric transit bus replies on flash charging at bus stops.

Early Tesla Investors Back Proterra Electric Bus Series C Round

Besides the Pritzker's other investors include Perkins Caufield & Byers; General Motors Corp.’s GM Ventures, and Edison Energy Inc.

Published: 09-Jan-2014

Early investors in Tesla Motors have backed another electric transportation company, bus maker Proterra, company representatives told VentureWire.

Nick and Joby Pritzker, via their investment firm Tao Invest, participated in a $10 million second close of Proterra’s Series C round, which now totals a little more than $34 million, as VentureWire previously reported. Proterra’s valuation is getting close to $200 million, Chief Executive Garrett Mikita said.

Greenville, S.C.-based Proterra has been on a roll in the past few months, securing large orders with several municipalities in a market that has been scattered and experimental. Electric buses, which promise environmental benefits and fuel savings, are gaining traction as cities that were first to purchase start getting proof of performance, and as manufacturing capacity grows with suppliers like Proterra.

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